Xiaomi is much more than a smartphone company in China and now the company is expanding its services in India too. After launching the Mi Music and Mi Video services, Xiaomi India has launched the Mi Credit service in India. It provides an instant personal Loan of up to 1,00,000 to MIUI users.

For this Xiaomi has partnered with KrditBee, which is an instant loan platform for young professionals. You can take the loan of an amount from ₹1,000 to ₹100,000. The validity period the loan is from 15 days to 90 days. The company is charging 3% interest rate per month for the loan.

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As mentioned earlier this is only for MIUI users, meaning Mi A1 users also can not use the service. The company claims instant loan in 10 minutes with KYC process. The only thing you need is your pan card and Aadhaar card. The loan will be transferred to your bank account and you can payback it via the KrfitBee payment gateway.

“The connectivity between our devices and the seamless integration between hardware and internet services enable us to provide our users with the better user experience. Mi Credit is another big step in bringing an important internet service to India and we trust that our users would be able to truly benefit as the service becomes more sophisticated,” said Manu Jain, VP Xiaomi, MD Xiaomi India.

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The service is aimed at young MIUI users who need a small amount of loan for a short period of time. There is no need for excess paperwork and simple process. Will you use it? Let us know in the comments below and stay tuned to Sid Tech for more tech updates.

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The post Xiaomi Mi Credit Launched in India – Personal Loan For MIUI Users appeared first on Sid Tech.